17 November, 2000
Inquiries: Mr Jari Harjunpää +358 9 1734 3472, Ms
Sonja Kuusisto +358 9 1734 3469
thi.tilastokeskus@stat.fi
Director in charge: Mr Jarmo Hyrkkö
Import prices fell in October
According to Statistics Finland, the import price index fell by 0.6 per cent from September to October. The other producer price indices continued to rise. The fall in the import price index was mainly attributable to reductions in the prices of crude oil and metal ores. Against this, the prices of oil products went up. In the year to October import prices have risen by 14.3 per cent, with biggest increases in the prices of oil products and energy minerals.
Producer prices for manufactured goods, that is prices for goods intended for the domestic market, went up by 0.5 per cent in October, with biggest increases in the prices of pulp, paper and paper products, as well as metal and oil products. In the year to October, producer prices for manufactured goods have gone up by 8.9 per cent.
Wholesale prices rose by 0.2 per cent from September to October, with biggest increases in the prices of investment goods and durable goods. Compared to 12 months earlier, wholesale prices went up by 9.7 per cent, mainly due to increases in the prices of oil products, crude oil, pulp, paper and paper products, basic metals, chemicals and transport equipment.
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Month-on-month and year-on-year changes of producer price indices in October 2000, % (1995=100) |
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|
Indices |
Point figure |
Change, % |
Change, % |
|
Producer price index for manufactured goods |
107.9 |
0.5 |
8.9 |
|
Export price index |
103.5 |
0.3 |
10.4 |
|
Import price index |
114.8 |
-0.6 |
14.3 |
|
Basic price index for domestic supply |
110.3 |
0.2 |
9.5 |
|
Wholesale price index |
110.5 |
0.2 |
9.7 |
Producer price indices measure the development of commodity prices from enterprises' perspective. The basic price index for domestic supply measures the development of prices exclusive of tax of goods used in Finland as they enter the market. The wholesale price index measures the change in the purchase prices of goods used in Finland inclusive of tax. Both these indices contain domestic and imported goods.
The HWWA Index, used to measure the dollar-based world market prices of raw materials, fell by 1.7 per cent from September to October. The prices of energy products went down by 1.4 per cent. The world market price of crude oil fell by 1.6 per cent whilst the price of coal went up by 3.4 per cent. Excluding energy products, the overall Index fell by 2.6 per cent.
Source: Producer Price Indices 2000, October. Statistics Finland